S&P: AMC unaffected

Standard & Poor's said AMC Entertainment Holdings Inc.'s (B/stable) S-1 filing with the Securities and Exchange Commission announcing plans for an initial public offering does not affect the ratings or outlook on the company.

Proceeds will be used to repay its $400 million super-holding company debt.

S&P said, however, that it expects lease-adjusted leverage to remain high following a debt reduction and that as a public company AMC will pay quarterly dividends that will diminish its discretionary cash flow.

Lease-adjusted debt-to-EBITDA ratio as of June 28 was in the mid-7 times.

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